Netflix (NASDAQ:NFLX) Shares Down 0.5% – Here’s What Happened

Netflix, Inc. (NASDAQ:NFLX)’s share price dropped 0.5% on Wednesday . The company traded as low as $697.82 and last traded at $702.50. Approximately 442,712 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 3,625,906 shares. The stock had previously closed at $705.98.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. KeyCorp upped their price objective on Netflix from $735.00 to $760.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Jefferies Financial Group increased their target price on shares of Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $635.00 price target on shares of Netflix in a research note on Friday, September 20th. China Renaissance began coverage on shares of Netflix in a research report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective on the stock. Finally, Redburn Atlantic raised their price target on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $704.26.

Netflix Stock Down 0.5 %

The stock has a market capitalization of $302.73 billion, a price-to-earnings ratio of 48.75, a PEG ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The business has a fifty day moving average of $690.82 and a 200 day moving average of $653.04.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the company earned $3.29 EPS. As a group, equities analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Activity at Netflix

In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $8,043,019.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Netflix news, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the transaction, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 225,167 shares of company stock worth $150,492,460. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several institutional investors and hedge funds have recently bought and sold shares of the business. GQG Partners LLC purchased a new stake in Netflix during the first quarter worth about $1,450,476,000. Jennison Associates LLC boosted its holdings in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after acquiring an additional 929,193 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in Netflix in the 1st quarter valued at $436,514,000. Jericho Capital Asset Management L.P. acquired a new position in shares of Netflix during the first quarter worth $372,293,000. Finally, Swedbank AB purchased a new position in Netflix in the first quarter valued at about $216,538,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.